- Push-out Score determined
- After almost eight years in the position
- Praise, thanks and good wishes for Munthe
- Dual Chief Executive Officer role eliminated
- Svein Harfjeld becomes sole Chief Executive Officer
- Munthe spoke at length and said 131 words
(exechange) — Hamilton, Bermuda, January 24, 2022 — Trygve Munthe, co-chief executive of DHT, leaves. As announced by DHT Holdings Inc. in a news release on Monday, January 24, 2022, Trygve P. Munthe leaves his post as co-chief executive officer at the independent crude oil tanker company, after almost eight years in the role, effective April 8, 2022.
DHT eliminates the dual Chief Executive Officer role. Svein Moxnes Harfjeld will be sole Chief Executive Officer.
“Return to his native Norway”
DHT did not give an explicit reason for Trygve Munthe’s departure from the Co-CEO post. DHT said: “[A]fter more than 11 years with the Company and a 35-year long career in shipping, Co-CEO Trygve P. Munthe has decided to retire and leave the Company on April 8, 2022 and return to his native Norway.”
Precise information regarding Trygve Munthe’s future plans was not immediately available.
“Retire”
DHT said: “Trygve P. Munthe has decided to retire and leave the Company on April 8, 2022.”
Share price decline since January 2020
The announcement follows a decline in DHT Holdings Inc.’s share price of 41% since January 2020.
In the position of CEO since 2014
Trygve Munthe became CEO of the Company in 2014.
On June 23, 2014, DHT Holdings had announced the appointment of Svein Moxnes Harfjeld and Trygve P. Munthe as co-CEOs of DHT.
Trygve P. Munthe joined DHT on September 1, 2010.
Munthe has over 30 years of experience in the shipping industry.
He was previously CEO of Western Bulk, President of Skaugen Petrotrans, Director of Arne Blystad AS and CFO of I.M Skaugen.
Munthe is a citizen of Norway.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Trygve Munthe’s move on a scale of 0 to 10.
exechange reached out to DHT and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 5.2022 ($).